Gold Rate in Kollam

0
Today’s Gold Rate in India
22 Karat
47,590Per 10g of 22k Gold

Today 24 Carat Gold Price in Kollam – Updated

Gram 24 Carat Gold Yesterday 24 Carat Gold Today
Daily Price Change
1 GRAM Rs 4860.00 Rs 4881.00 0.43 %↑
8 GRAM Rs 38880 Rs 39048 0.43 %↑
10 GRAM Rs 48600 Rs 48810 0.43 %↑
100 GRAM Rs 486000 Rs 488100 0.43 %↑

Today 22 Carat Gold Price in Kollam – Updated

Gram 22 Carat Gold Yesterday 22 Carat Gold Today Daily Price Change
1 GRAM Rs 4455.00 Rs 4475.00 0.447%↑
8 GRAM Rs 35640 Rs 35800 0.447%↑
10 GRAM Rs 44550 Rs 44750 0.447%↑
100 GRAM Rs 445500 Rs 447500 0.447%↑

Today Gold Rate In Kollam :

The daily variation in gold rate in Kollam. Today that can be attributed to a variety of factors. One of the most important is the metal’s international demand. We’ve been noticing that demand for the precious metal in the state has been falling. As a result, pricing demand has been muted. The currency movement is another aspect that influences today’s gold rates in Kollam. The rupee has been losing ground versus the dollar. Gold Rate in Kollam tends to fall when this happens. As a result, gold rates in Kollam are affected today.

Compare 22K & 24K Gold Rate in Kollam

Last 10 Days Gold Rates

Date
STANDARD GOLD 22K PURE GOLD 24K
1 GRAM 10 GRAM 1 GRAM 10 GRAM
May 26, 2021 Rs. 4710.00 Rs. 47100 Rs. 5100.00 Rs. 51000
May 25, 2021 Rs. 4693.00 Rs. 46930 Rs. 5083.00 Rs. 50830
May 24, 2021 Rs. 4693.00 Rs. 46930 Rs. 5083.00 Rs. 50830
May 23, 2021 Rs. 4693.00 Rs. 46930 Rs. 5083.00 Rs. 50830
May 22, 2021 Rs. 4693.00 Rs. 46930 Rs. 5083.00 Rs. 50830
May 21, 2021 Rs. 4693.00 Rs. 46930 Rs. 5083.00 Rs. 50830
May 20, 2021 Rs. 4693.00 Rs. 46930 Rs. 5083.00 Rs. 50830
May 19, 2021 Rs. 4682.00 Rs. 46820 Rs. 5072.00 Rs. 50720
May 18, 2021 Rs. 4681.00 Rs. 46810 Rs. 5071.00 Rs. 50710
May 17, 2021 Rs. 4650.00 Rs. 46500 Rs. 5050.00 Rs. 50500

Gold Rate in KollamGold Rate in Kollam

Kerala is indeed enamoured with gold and gold jewellery. Malayalees who travelled to the Gulf in huge numbers in the 1970s, 1980s, 1990s, and 2000s always returned with gold. However, gold import limits are less stringent these days, so you should be able to return with sufficient quantities of gold for both personal use and investment.

List of banks providing gold loan in Kollam

Bank / NBFC Rate Per Gram Interest Rate Gold Loan Tenure Min – Max Loan Amount
₹ 3,506 to ₹ 4,621 0.099 3 to 24 months ₹ 10 thousand to 5 crore
ICICI Gold Loan ₹ 3,506 to ₹ 4,621 0.1 6 to 12 months ₹ 10 thousand to 5 crore
₹ 3,506 to ₹ 4,621 0.12 7 days to 36 months ₹ 3 thousand to 1 crore
₹ 3,506 to ₹ 4,621 0.1225 12 months ₹ 3 thousand to 1 crore
₹ 3,506 to ₹ 4,621 0.1025 36 months ₹ 20 thousand to 50 lakh
₹ 3,506 to ₹ 4,621 0.1 3 to 36 months ₹ 10 thousand to 5 crore
SBI Gold Loan ₹ 3,506 to ₹ 4,621 0.0975 12 to 36 months ₹ 20 thousand to 50 lakh
₹ 3,506 to ₹ 4,621 0.075 3 to 36 months ₹ 20 thousand to 50 lakh
₹ 3,506 to ₹ 4,621 0.1025 12 months ₹ 20 thousand to 50 lakh
₹ 3,506 to ₹ 4,621 0.1025 12 months ₹ 10 thousand to 5 crore
IIFL Gold Loan ₹ 3,506 to ₹ 4,621 0.12 11 months ₹ 3 thousand to 50 lakh

How are Gold Rates Decided?

The rate of gold in India is primarily determined by the international gold rate. The International gold rate is determined by the rates of London Over-the-Counter (OTC) spot gold market trading and COMEX (Commodities Exchange) gold futures trading. The gold rate in Kollam and other Indian cities is influenced by excise levies, state taxes, and various local levies.

How do Gold Traders Determine Future Gold Prices in Kollam?

The current gold rate in Kollam is influenced by a number of things. Price differences can be caused by a number of factors. When it comes to projecting the gold rate in Kollam, investors look at a few things:

  • Other precious metals prices have an impact on the gold rate in Kollam. As a result, investors in the city pay attention to the price of other metals. On the internet, you can find the current gold rate in Kollam and other cities.
  • The rupee exchange rate represents the impact of imports and exports on our currency; hence fluctuations in the rupee rate have an impact on gold rate in Kollam. As a result, the exchange rate has a large influence on the gold rate of Kollam.

What Leads to the Increment of Gold Rates When the Stock Market Falls?

When Kollam investors have run out of other options, they typically turn to gold. Investors begin to withdraw their funds when the stock market falls. Some people put their money in fixed deposits or precious metals like gold and silver as a safe investment option. Investors all throughout the world see gold as a safe and successful investment option. The value of gold does not depreciate after a certain point, which is one of the reasons it is so popular among investors. The stock market, on the other hand, continues to vary, and the value of stocks varies for a variety of reasons.

Impact of GST on Gold Rate in Kollam

Purchases of gold jewellery, coins, and billions are subject to a 3% GST charge. Jewellery vendors that have their things produced by a third party are subject to a 5% GST on the manufacturing fee. In the end, the client is responsible for paying the manufacturing tax. However, it is not noted separately on the invoice and is instead included in the making charges section.

Impact of Central Bank Policies on Kollam Gold Rate?

The central bank is in charge of a country’s financial and banking services, as well as the currency and monetary policies of the government. The gold rate in Kollam and throughout the country is determined by central bank monetary policy. All policies are regulated by the central bank, and its actions have a considerable impact on gold prices.

Gold mining businesses and banks control gold prices due to their vast gold stockpiles. The Gold Rate in Kollam changes when banks buy or sell gold or when mine owners cut or increase gold production. When a central bank’s gold reserves begin to fall short of its holdings, it buys or demands more gold. This has an effect on the Gold Rate in Kollam.

Gold as an Investment in Kollam

The stability of the gold investment portfolio is well-known. Indians believe that investing in gold will reap long-term financial rewards in the form of earnings. Residents see gold jewellery, decorations, gold coins, and billions as a significant investment in protecting their wealth, and Kollam is known as a sanctuary for them. It’s also widely used to trade multiple commodities.

There are a number of jewellery stores in Kollam where you may get genuine gold products for both investment and personal usage. You should double-check on that day as well because Gold Rate in Kollam fluctuates every day.

How Can You Make Gold Investments in Kollam

There are several ways to invest in gold:

  • Coins & Bars of Gold –  When it comes to investing in real gold, pure gold coins, bullions, and other options should be explored.
  • Gold Exchange Traded Fund (ETF) – Gold ETFs allow investors to speculate on the price of actual gold. You do not take physical gold ownership here. Gold ETFs have an advantage over actual gold in that they are traded at the same rate throughout India.
  • Sovereign Gold Bonds (SGBs) – SGBs are bonds issued by the Reserve Bank of India on behalf of the Indian government. 1 bond is equivalent to 1 gramme of pure gold. SGBs are less liquid than ETFs since they have a 5-year lock-in period; the full duration is 8 years.

Gold Schemes To Invest in Kollam

Gold-savings plans are great for people who want to put money aside for special occasions like weddings, anniversaries, and other celebrations. In Kollam, there are a number of gold schemes that might help you buy gold. They are easily available from some of Kollam’s finest jewellers.

The interest rate on these deals, on the other hand, changes depending on the current gold rate in Kollam as well as the interest rate. Look for manufacturing cost discounts while acquiring the precious metal. However, don’t expect a lot of freebies. The money will be locked up from the day you invest in the plan.

Some Interesting Facts on Gold

Here’s a quick summary of gold characteristics to keep in mind for investors.

  • The metal gold does not oxidise.
  • Gold is softer than other metals, and 1g of the precious metal can be easily broken with a hammer.
  • Gold becomes tough when it is alloyed with other metals.

Things to Consider Before Buying Gold Jewelry in Kollam

  • Purity – The purer the gold, the higher the price. Purchase pure gold bullions as an investment.
  • BIS Hallmark – When buying jewellery, hallmarks are important since they guarantee the amount of gold in the piece. At the moment, 22K, 18K, and 14K gold objects are hallmarked.
  • Making Charges – In the case of jewellery, it is to your best advantage to be aware of the current making charges. This will keep you from being tricked into paying a ridiculously high making fee.
  • The article’s weight – Because gold is so valuable, even a tiny loss in its weight will substantially lower its worth. To ensure the weight of the gold item, you might have it weighed by a third party.
  • Invoice – An invoice contains all of the pertinent details about the gold item. This contains things like pricing, making charge, gold purity, and so on. Invoices are crucial, particularly if you plan to sell the goods.

Factors that Influence Gold Prices in Kollam

The following are the main elements that influence the gold rate in Kollam:

  • International Gold Value – The gold rate in all countries, including India, is influenced by the international gold rate. Because India imports the majority of its gold, as worldwide prices fall, so does the Indian gold rate.
  • Currency Strength in the United States – Gold is exchanged in US Dollars on a global scale (USD). When the dollar strengthens, the gold rate falls. As a result, we can claim that gold has an inverse connection with currency.
  • Strength of the Indian Rupee – Because gold is purchased in US Dollars, when the rupee appreciates in value versus the dollar, more gold may be purchased. The gold rate in Kollam will fall as a result of this.
  • Demand and Supply – The gold rate is influenced by demand and supply. When supply falls, and everything else stays the same, the gold rate in Kollam rises.
  • Monsoon – India’s rural population consumes 60% of the country’s gold. Agriculture is the main source of their riches. Indian harvests are now entirely reliant on a healthy monsoon. As a result, when the monsoons are favourable, people’s spending power rises, and more gold is purchased. The Gold Rate in Kollam and in India rise as demand rises.
  • Geopolitical Factors – Gold investments operate as a risk hedge for customers. People hoard gold if there is a conflict or tension between countries. As a result, the gold rate rises.

KDM and Hallmarked Gold in Kollam

  • Hallmark – The Bureau of Indian Criteria (BIS) issues a quality certification based on international purity standards. This, as well as the purity levels of the gold used, is determined by the composition of the alloying metal.
  • KDM – It is a gold alloy containing 92 per cent gold and 8% cadmium. This is how the alloy is manufactured. In the making of jewellery, older materials are still used. Nonetheless, because the melting points of the two metals, gold and solder material, are different, cadmium is now combined with gold, hence the term KDM.

Understanding 916 Gold Price Today in Kollam

It would help if you looked at the global trend that affects the 916 Gold Rate in Kollam. Currency movements, such as the exchange rate of the US dollar against other currencies, also have an impact. The Indian word for 22 karat gold is 916 gold: several factors, notably the import tariff rate, influence the gold rate in Kollam today.

The lower the gold rate in Kollam, the lower the import tariff, and vice versa. The Gold Rate in Kollam declines as the government cuts the import duty. Aside from municipal taxes, the gold rate in Kollam is influenced by a variety of other factors. However, it is impossible to go over every factor that influences the Gold Rate in Kollam in depth.

Best Place to Buy Gold in Kollam

Those interested in buying or investing in gold have a number of options. Online or in the newspaper, you can find the current gold rate in Kollam. Other shops can be located in the city’s other neighbourhoods. You can, however, purchase gold from any location in Kollam that is currently offering the best gold price.

Buying a Gold Loan in Kollam

You may easily get a Gold loan by using gold that you already own. Because you are obtaining a gold loan with your own gold, the conditions are less stringent, providing security to the Gold Insurers. However, be sure you have enough money to repay the loan. If you do not repay it, the gold insurance company may seize the entire amount. You’d also lose the gold you’d put up as a bet.

In most cases, a gold loan is issued for 11 months. A number of gold insurance companies and banks offer gold loans. After comparing gold loan rates in Kollam and across India, you can buy gold through a bank or an insurance provider. For additional information, go to the Dialabank website.

What are the Advantages and Disadvantages of Sovereign Gold Bond Scheme

The following are some of the benefits:

  • Both Demat and paper versions of the Sovereign Gold Bond Scheme are available.
  • The government’s support for such programmes is a significant plus.
  • Unlike physical gold, you won’t have to worry about its security because it can be stored digitally.
  • You don’t have to worry about the gold quality because the bonds are in paper or electronic form.

The following are the drawbacks:

  • If the gold rate today falls after you finalize the purchase, you would lose a significant amount of money.
  • If you choose a long-term plan, you will also be unaffected by price fluctuations.
  • Converting gold bonds to physical gold is also a lengthy process.
  • Furthermore, bonds may not be the best option if you plan to use gold for personal reasons.

Gold Vs. Mutual Funds

MUTUAL FUNDS GOLD
Complicated
Less complicated
Greater market risk Involved
Based on global and few other factors it is easier to get a rough idea of the gold rates
Options to invest in Equity linked saving scheme (ELSS), Equity mutual funds, debt fund, liquid funds, etc.
Gold Funds and Gold ETFs
More opportunity cost
Less opportunity cost

Latest News on Gold Rate in Kollam

2021-05-16:

500 Kerala nurses are stuck in the UAE after being enticed by employment offers. To prevent such job seekers from being exploited, both the Union and state governments established dedicated agencies for their recruitment, such as the Overseas Development and Employment Promotion Consultants Ltd and the Non-Residents Keralites Affairs in Kerala.

Nearly 500 Kerala nurses were trapped in the United Arab Emirates (UAE) after recruitment agencies allegedly duped them out of hefty pay and other benefits. Some have returned, while others have remained trapped, claiming they were compelled to work as home nurses and masseurs at parlours.

2021-02-26:

A new gold loan forgiveness plan has also been introduced by the Tamil Nadu government. The announcement comes just hours before the Election Commission announces polling dates. Tamil Nadu Chief Minister K Palaniswami stated on Friday that loans obtained from cooperative societies by pledging jewels up to six sovereigns, as well as pending loans of women members of Self Help Groups in cooperative banks and societies, will be forgiven.

SHG members submitted representations in the Assembly that they were unable to repay loans received from cooperative banks and societies because of the COVID-19 outbreak, Palaniswami said, adding that they wanted loan waivers.

FAQs

✅ Who is eligible to buy Sovereign Gold Bonds?

Sovereign Gold Bonds can be purchased by Indian residents, trusts, Hindu Undivided Families (HUFs), universities, and charitable organisations. Parents can also invest on behalf of minors in SGBS.

✅ What are the main benefits of buying gold ETFs?

The following are some of the top benefits of investing in gold ETFs: easy trading, easy transactions, open trade, tax benefit, and so on.

✅ Gold Exchange Traded Funds (ETFs) or Sovereign Gold Bonds (SGBs): Which is more liquid?

In comparison to SGBs, which have a 5-year lock-in term, ETFs are more liquid.

✅ Are gold exchange-traded funds (ETFs) traded on a stock exchange?

Yes, Gold ETFs are listed on the National Stock Exchange of India and the Bombay Stock Exchange, respectively.

About Kollam

On India’s Malabar Coast, Kollam is a city in the state of Kerala. It’s famed for its beaches, such as the vibrant Kollam and the tranquil Thirumullavaram. The Sardar Vallabhbhai Patel Police Museum houses items from the police force’s history. Nearby, Ashtamudi Lake serves as an entrance to the Kerala backwaters, a lush network of waterways.

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